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deficits are they say unsustainable. g.d.p. is actually negative. what is he going to say, not my fault? >> he is going to say if congress doesn't act to o these things in the next few months it's going to get even worse. for example, you have the sequester coming up in couple weeks. president has presented proposals that would stave off some of the cuts that would be devastating to the nation's military and the defense industry. you have debt ceiling coming up few months after that and congress is supposed to pass a budget in the next couple of months but obviously they have not done that. >> gregg: he has raised taxes not only on high income earners, he has raised taxes on everyone. the word is he is going to say, he needs more money, more tax revenues. how is that going to be received? >> i can tell you on capitol hill it has not been received very well. house republicans basically, many of them didn't vote for the package that included the tax hikes you are referring to, the one that was voted right after new year's eve. they say that is enough.
deficits are they say unsustainable. g.d.p. is actually negative. what is he going to say, not my fault? >> he is going to say if congress doesn't act to o these things in the next few months it's going to get even worse. for example, you have the sequester coming up in couple weeks. president has presented proposals that would stave off some of the cuts that would be devastating to the nation's military and the defense industry. you have debt ceiling coming up few months after that and...
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we have a budget deficit problem we have to address. right now we have low interest on the national debt, and it's a googood time for us to act to loather deficit. we think the deficit and the national debt are at a moral level. we think they must be reduced. we're sick and tired of paying interest on the national debt. that's 15%. that's a large percentage of the budget. >> joining us now is the anchor of "fox news sunday" chris wallace. good morning, chris. >> how are you, eric? >> eric: we heard her say that the national debt is at immoral levels. how do we fix it? what would you say? >> well, the pressure the president -- expression the president used a lot during the campaign, and you know what that means. i suspect it's very different than the republicans, but also yes, tax increases and spending cuts. no more raising of rates but there's a lot that can be done in taking away loopholes, dehe duckses on the wealthy, do away with the subsidies to the oil companies, the buffett role that anybody who makes more than a million dollars
we have a budget deficit problem we have to address. right now we have low interest on the national debt, and it's a googood time for us to act to loather deficit. we think the deficit and the national debt are at a moral level. we think they must be reduced. we're sick and tired of paying interest on the national debt. that's 15%. that's a large percentage of the budget. >> joining us now is the anchor of "fox news sunday" chris wallace. good morning, chris. >> how are...
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we can't just talk about the deficit in the short-term when really we need to spend more. we can't keep cutting jobs because cutting right now is laying off teachers, laying off firefighters. it's not educating our kids. it's going to take people out of head start. these are things that are not going to get us on the right track. we need to focus and get engaged and get the economy back on the right track. >> rick: two starkly different views on a way forward. well presented by both of you. so thank you both for coming on. >> thank you. >> arthel: very good. so there is this, in utah, a moose creating some excitement in a residential neighborhood. the moose making himself effectually at home, taking in the sights as he wandsered into various back yards. sometimes hopping walls and fences, posting on facebook. no, he didn't. wildlife officials were finally able to tranquilize him and they suggest you leave that to the professionals, of course. >> rick: i just got -- >> you never approach a moose. they're very aggressive. they can seem real docile and all of a sudden decide
we can't just talk about the deficit in the short-term when really we need to spend more. we can't keep cutting jobs because cutting right now is laying off teachers, laying off firefighters. it's not educating our kids. it's going to take people out of head start. these are things that are not going to get us on the right track. we need to focus and get engaged and get the economy back on the right track. >> rick: two starkly different views on a way forward. well presented by both of...
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the debt and deficit problem is also a problem of economic growth. we don't have too many economic problems that a few extra points of gdp growth wouldn't solve. the economy is sort of okay, improving. housing is coming up. the stock market is doing well and manufacturing is coming back to life. if we can get the economy moving in a positive direction that will help with the debt and deficit and other issues. i want to hear concrete proposals for creating jobs and expanding the economy. >> how do we get there? you've been in washington, you're an independent. the parties are like this. >> no kidding. >> did you expect it to be that bad? >> i didn't have any illusions but there are a few signs of hope. negotiations on the filibuster rule change. didn't get as much as i want but that's compromise. a bipartisan serious discussion on immigration. i don't think we expected that. let's hope there's positive movement. but yeah, the warfare is still a big part of the deal. >> it's on both sides. the critics accuse of president of my way or the highway yet jo
the debt and deficit problem is also a problem of economic growth. we don't have too many economic problems that a few extra points of gdp growth wouldn't solve. the economy is sort of okay, improving. housing is coming up. the stock market is doing well and manufacturing is coming back to life. if we can get the economy moving in a positive direction that will help with the debt and deficit and other issues. i want to hear concrete proposals for creating jobs and expanding the economy....
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he will tie that, i think, to the debt and the deficit. he will talk about raising additional revenue. there is going to be no sign of compromise, no willingness to do a deal on the budget any grand bargain of the type that simpson-bowles proposed and we will get more of the same with a focus on jobs and the economy and more stimulus spending. >>gregg: he raised taxes on minute and now he wants more tax revenues? >> he says he does and the democrats are saying they need another $600 billion in tax revenue. we are not at the issue of spending cuts. no one wants to talk about it in either party. there is leak today that the president in the speech will talk about debt and deficit reduction because they saw the pew poll that shows this is what people care about. the polls show it. the public pegs this debt problem to the part of the reason why the economy is lagging yet the president ignores this. >> he never mentioned any of this in the inaugural. remember, it is not a spending problem? he never mentioned the economy and now the numbers are
he will tie that, i think, to the debt and the deficit. he will talk about raising additional revenue. there is going to be no sign of compromise, no willingness to do a deal on the budget any grand bargain of the type that simpson-bowles proposed and we will get more of the same with a focus on jobs and the economy and more stimulus spending. >>gregg: he raised taxes on minute and now he wants more tax revenues? >> he says he does and the democrats are saying they need another $600...